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AI Analysis of NEP
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NextEra Energy Partners LP stock downgraded from Strong Buy Candidate to Hold/Accumulate after Monday trading session.
(Updated on May 06, 2024)

Buy or Hold candidate since May 02, 2024 Gain 3.18% PDF

The NextEra Energy Partners LP stock price fell by -1.26% on the last day (Monday, 6th May 2024) from $30.91 to $30.52. During the last trading day the stock fluctuated 3.76% from a day low at $29.55 to a day high of $30.66. The price has risen in 6 of the last 10 days and is up by 11.14% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -801 thousand shares and in total, 2 million shares were bought and sold for approximately $64.13 million.

The stock lies in the upper part of a wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $30.93 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 3.38% during the next 3 months and, with a 90% probability hold a price between $28.15 and $31.97 at the end of this 3-month period.

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NEP Signals & Forecast

The NextEra Energy Partners LP stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $29.44 and $28.58. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, May 03, 2024, and so far it has fallen -1.26%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss for NextEra Energy Partners LP stock

On the downside, the stock finds support just below today's level from accumulated volume at $28.77 and $28.61. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, NextEra Energy Partners LP finds support just below today's level at $28.77. If this is broken, then the next support from accumulated volume will be at $28.61 and $27.00.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.11 between high and low, or 3.76%. For the last week, the stock has had daily average volatility of 4.08%.

Our recommended stop-loss: $29.29 (-4.04%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (NEP) For The Upcoming Trading Day Of Tuesday 7th

For the upcoming trading day on Tuesday, 7th we expect NextEra Energy Partners LP to open at $30.24, and during the day (based on 14 day Average True Range), to move between $29.41 and $31.63, which gives a possible trading interval of +/-$1.11 (+/-3.65%) up or down from last closing price. If NextEra Energy Partners LP takes out the full calculated possible swing range there will be an estimated 7.30% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $30.91 (1.28%) than the support at $28.77 (5.73%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is NextEra Energy Partners LP stock A Buy?

NextEra Energy Partners LP holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Hold/Accumulate candidate.

Current score: 0.607 Hold/Accumulate Downgraded

Predicted Opening Price for NextEra Energy Partners LP of Tuesday, May 7, 2024

Fair opening price May 7, 2024 Current price
$30.24 ( 0.91%) $30.52

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for NEP

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 31.35 2.73 %
R2 30.93 1.34 %
R1 30.67 0.483 %
Current price: 30.52
Support S1 29.82 -2.30 %
S2 29.56 -3.15 %
S3 29.13 -4.54 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 0 .
R2 0 .
R1 30.91 1.28 %
Current price 30.52
Support S1 28.77 -5.73%
S2 28.61 -6.26%
S3 27.00 -11.53%

NEP Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 Apr 23, 2024 May 06, 2024 May 15, 2024 $0.89 2.92%
2 Jan 24, 2024 Feb 05, 2024 Feb 14, 2024 $0.88 3.11%
3 Oct 24, 2023 Nov 03, 2023 Nov 14, 2023 $0.87 3.56%
4 Jul 24, 2023 Aug 03, 2023 Aug 14, 2023 $0.85 1.81%
5 Apr 24, 2023 May 04, 2023 May 15, 2023 $0.84 1.36%

FAQ

What is the symbol for NextEra Energy Partners LP Stock and on which exchange is it traded?
The symbol for NextEra Energy Partners LP is NEP and it is traded on the NYSE (New York Stock Exchange).

Should I buy or sell NextEra Energy Partners LP Stock?
NextEra Energy Partners LP holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Hold/Accumulate candidate.

How to buy NextEra Energy Partners LP Stock?
NextEra Energy Partners LP Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy NextEra Energy Partners LP Stock.

What's the current price of NextEra Energy Partners LP Stock?
As of the end of day on the May 06, 2024, the price of an NextEra Energy Partners LP (NEP) share was $30.52.

What is the 52-week high and low for NextEra Energy Partners LP Stock?
The 52-week high for NextEra Energy Partners LP Stock is $63.89 and the 52-week low is $20.17.

What is the market capitalization of NextEra Energy Partners LP Stock?
As of the May 06, 2024, the market capitalization of NextEra Energy Partners LP is 2.855B.

When is the next earnings date for NextEra Energy Partners LP?
The upcoming earnings date for NextEra Energy Partners LP is Jul 23, 2024.
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About NextEra Energy Partners LP

NextEra Energy Partners LP NextEra Energy Partners, LP acquires, owns, and manages contracted clean energy projects in the United States. It owns a portfolio of contracted renewable generation assets consisting of wind and solar projects, as well as contracted natural gas pipeline assets. NextEra Energy Partners, LP was incorporated in 2014 and is headquartered in Juno Beach, Florida.... NEP Profile

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